Analysts expect Franklin Financial Network Inc (NYSE:FSB) to post $32.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Franklin Financial Network’s earnings, with estimates ranging from $32.30 million to $32.50 million. Franklin Financial Network reported sales of $31.05 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that Franklin Financial Network will report full year sales of $130.75 million for the current financial year, with estimates ranging from $130.40 million to $131.10 million. For the next year, analysts forecast that the business will post sales of $138.90 million, with estimates ranging from $137.80 million to $140.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). Franklin Financial Network had a return on equity of 9.98% and a net margin of 14.39%. The firm had revenue of $30.91 million for the quarter, compared to the consensus estimate of $31.45 million.
Several research firms have issued reports on FSB. Raymond James upgraded shares of Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Friday, May 17th. Zacks Investment Research lowered shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Compass Point lowered shares of Franklin Financial Network from a “neutral” rating to a “sell” rating in a research note on Monday, April 8th. Stephens reiterated a “hold” rating and issued a $38.00 price objective on shares of Franklin Financial Network in a research note on Thursday, April 25th. Finally, ValuEngine upgraded shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.33.
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Franklin Financial Network by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 158,619 shares of the financial services provider’s stock valued at $6,202,000 after acquiring an additional 9,129 shares in the last quarter. Millennium Management LLC acquired a new stake in Franklin Financial Network in the 4th quarter valued at $240,000. Vanguard Group Inc grew its position in Franklin Financial Network by 15.3% in the 3rd quarter. Vanguard Group Inc now owns 750,693 shares of the financial services provider’s stock valued at $29,352,000 after purchasing an additional 99,436 shares during the period. BlackRock Inc. grew its position in Franklin Financial Network by 2.9% in the 4th quarter. BlackRock Inc. now owns 1,920,571 shares of the financial services provider’s stock valued at $50,645,000 after purchasing an additional 53,245 shares during the period. Finally, Rhumbline Advisers grew its position in Franklin Financial Network by 22.4% in the 4th quarter. Rhumbline Advisers now owns 35,494 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 6,504 shares during the period. Institutional investors own 65.96% of the company’s stock.
Franklin Financial Network stock traded up $0.51 during mid-day trading on Friday, hitting $28.05. 38,574 shares of the stock were exchanged, compared to its average volume of 82,759. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. Franklin Financial Network has a 12 month low of $25.25 and a 12 month high of $41.50. The firm has a market cap of $413.15 million, a price-to-earnings ratio of 10.35 and a beta of 1.45.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. Franklin Financial Network’s dividend payout ratio is currently 5.90%.
About Franklin Financial Network
Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.
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